"American Airlines Stock Plummets 15% After Strategy Misfire and Guidance Cut"
TL;DR Summary
American Airlines' stock plummeted after the company cut its second-quarter financial guidance and announced the departure of Chief Commercial Officer Vasu Raja. The airline now expects lower adjusted EPS and a significant drop in TRASM, a key revenue metric. The revisions come amid a busy travel season, with American struggling to capture more leisure and business travel. The company's focus on leisure travel and overcapacity issues have raised investor concerns, despite a strong travel demand.
Topics:top-news#airline-industry#american-airlines#business#financial-guidance#stock-market#vasu-raja
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